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Japanese IT consulting and systems integration firm focused on financial institutions' trading and risk systems.
Japanese IT consulting and systems integration firm focused on financial institutions' trading and risk systems.
Takes project fees for building trading and risk systems for banks and brokers, then support fees to keep them running, so existing clients come back for changes as rules and markets move. Clients are concentrated in the financial sector, so its income follows their technology budgets.
In one line: A finance-focused Japanese systems integrator, like a niche FIS/SS&C.
Moat: narrow (customer qualification, process know-how). Deep domain expertise in financial trading systems creates high switching costs once embedded.
Headquarters: Tokyo, Japan · Founded: 1997 · Employees: 1,850
Size Simplex Holdings,Inc (4373.T) is a Japan Information Technology company (Information Technology Services) with a market value of $1.66B, the 536th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,102 on 6 Nov 2026.
Performance Over six months the shares gained 25.4%, against -12.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 20.0% over the last twelve months (peer median +4.9%); the operating margin is 23.2% (peer median 6.5%).
Valuation It trades at 19.4× forward earnings against a peer median of 34.4× (3rd cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.7 points above its cost of capital (8.8% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥64.0B | ¥58.7B | ¥47.4B | ¥40.7B | ¥34.9B |
| Revenue growth | — | +24% | +16% | +16% | — |
| Gross profit | ¥28.8B | ¥25.6B | ¥19.5B | ¥17.1B | ¥14.2B |
| EBITDA | ¥17.5B | ¥17.1B | ¥13.5B | ¥11.4B | ¥9.87B |
| Net income | ¥10.6B | ¥10.5B | ¥7.78B | ¥6.19B | ¥5.43B |
| Free cash flow | ¥10.5B | ¥10.3B | ¥8.77B | ¥7.42B | ¥3.41B |
| Capital expenditure | ¥736M | ¥394M | ¥982M | ¥988M | ¥478M |
| Total debt | ¥20.7B | ¥22.5B | ¥18.6B | ¥22.6B | ¥21.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Simplex Holdings,Inc 4373.T | $1.66B | +25% | +20% | 23% | 19.4× | 12.4% |
| Nomura Research Institute 4307.T | $20.2B | +40% | +8% | 19% | 26.4× | 0.7% |
| Accenture ACN | $154B | +44% | +6% | 15% | 17.8× | 3.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 4373.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.2% | -2.7% | 8th lowest of 21 |
| 6-month return | +25.4% | -12.5% | 4th highest of 21 |
| Distance from 52-week high | -15.9% | -34.1% | 4th highest of 21 |
| Revenue growth (TTM) | +20.0% | +4.9% | 4th highest of 21 |
| Operating margin | 23.2% | 6.5% | 2nd highest of 21 |
| Forward P/E | 19.4× | 34.4× | 3rd cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 12.4% | 16.2% | 5th least demanding of 10 |
| Growth delivered (Del g) | +16.3% | +6.3% | 3rd highest of 10 |
| Hurdle (Req g minus delivered) | -3.9 pp | +0.1 pp | 5th least demanding of 10 |
| ROIC minus cost of capital | +8.7 pp | -4.5 pp | 5th highest of 20 |
| EV / EBITDA | 15.3× | 24.3× | 3rd cheapest of 9 |
| Net debt / EBITDA | 0.4× | -0.9× | 3rd most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Simplex Holdings,Inc 4373.T | Japan | $1.66B | +25% | +20% | 23% | 19.4× | 12.4% | +16.3% |
| secunet Security Networks YSN.DE | Germany | $1.66B | +20% | +13% | 11% | 37.3× | n/a | n/a |
| Mega Fortune MGRT | United States | $1.65B | -14% | -8% | -37% | n/a | n/a | n/a |
| Northking Information Technology 002987.SZ | China | $1.67B | -14% | +1% | 6% | 30.6× | 16.2% | +16.1% |
| Zen Technologies ZENTEC.NS | India | $1.64B | +6% | +4% | 31% | 45.7× | 53.0% | +66.0% |
| CETC Digital Technology 600850.SS | China | $1.62B | -18% | -1% | 2% | 17.3× | 19.1% | +5.8% |
| Omnicell OMCL | United States | $1.70B | -15% | +6% | 5% | 19.5× | 11.7% | +5.8% |
| Shift 3697.T | Japan | $1.71B | +61% | +24% | 11% | 19.2× | -2.2% | +28.6% |
| Transportation Telecommunication and Information Development Inc. Ltd. Zhejiang 300469.SZ | China | $1.72B | -18% | -15% | -102% | n/a | n/a | n/a |
| PDF Solutions PDFS | United States | $1.59B | -27% | +23% | 8% | 26.0× | n/a | n/a |
| Formula Systems (1985) Ltd. Sponsored ADR FORTY | United States | $1.75B | -26% | +1% | 8% | n/a | -3.4% | +6.3% |
| CETC Cyberspace Security Technology 002268.SZ | China | $1.77B | -11% | -3% | 1% | 45.0× | n/a | n/a |
| A10 Networks ATEN | United States | $1.80B | -11% | +12% | 17% | 22.0× | 16.7% | +5.2% |
| Data#3 DTL.AX | Australia | $1.54B | +81% | +6% | 8% | 31.6× | 26.9% | -14.2% |
| Shenzhen YSSTech Information Technology 300377.SZ | China | $1.53B | -24% | +14% | -3% | n/a | n/a | n/a |
| Black Box BBOX.NS | India | $1.53B | +10% | +12% | 7% | 47.3× | n/a | n/a |
| Shenzhen Forms Syntron Information 300468.SZ | China | $1.52B | -33% | +9% | 9% | n/a | n/a | n/a |
| Cetc Potevio Science & Technology 002544.SZ | China | $1.52B | -41% | 0% | 0% | 375.0× | n/a | n/a |
| Guangzhou Sie Consulting 300687.SZ | China | $1.52B | 0% | +3% | -3% | 79.8× | n/a | n/a |
| Sigma Advanced Systems SIGMAADV.NS | India | $1.83B | +196% | +358% | 12% | n/a | n/a | n/a |
| Neusoft 600718.SS | China | $1.51B | -3% | -5% | -5% | 37.1× | -6.1% | +9.7% |